Minister of State for Finance, Jayant Sinha launches ‘The CFO Board’: An initiative by finance leaders

The CFO Board: An initiative by finance leaders

To create a credible and quality think tank. 

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New Delhi, 13 January, 2015: On 9 January, 2015, the Minister of State for Finance, Mr. Jayant Sinha launched ‘The CFO Board’, an initiative conceptualized jointly by KPMG in India and CFO India, part of the 9.9 Media group, with an aim to create a credible and quality think tank for matters relating tofinance and governance.

The CFO Board is an effort to bring together India’s eminent finance professionals, with over 50decades of combined experience, on a non‐ partisan platform dedicated to engage with policy‐makerson behalf of the finance and business community and effect policy change  ‐ through dialogue and sharing of information, insights, effective practices and international benchmarks, whenever andwherever required. 

The 23 member working group of The CFO Board will be chaired by Mr. M. Damodaran (former SEBIChairman).  Each of these members bring with them depth and breadth of experience in multiple rolesacross various aspects of finance.

Addressing the members of The CFO Board’s working group, Mr. Jayant Sinha, Minister of State for Finance stated, "The government is serious about restarting the investment cycle and sustainable jobcreation.  The CFO Board is a great initiative. We hope it will allow the government and other stakeholders to tap into the considerable expertise of the finance sector veterans in an unbiasedmanner."

Mr. M. Damodaran, former SEBI Chairman and Chairman of The CFO Board said, “India is movingtowards fulfillment of its potential. The CFO Board has come into being with the intention of using thecollective wisdom of the group in the large national cause". 

“Today, the role of a CFO can be much more diverse than understood in the conventional model.  ACFO plays a multi dimensional and multi faceted role and can be an effective business partner to theCEO, working towards building business policy and strategy.  This initiative is our collective effort tobring together experts acrossindustries and sectors who share a common objective of generating highquality implementable ideasforthe industry and the economy in conjunction” said Mr. Richard Rekhy,CEO, KPMG in India.

Speaking about The CFO Board initiative, Ms. Anuradha Das Mathur, Founder and Director, 9.9 Media said, “Despite the critical role played by this community, senior finance professionals have had noshare of voice. While they are the most impacted by developments in the macroeconomy or fiscalmeasures, for a variety of reasons, the CFO community faces a vacuum in terms of dialogue. Itsexperience, wisdom and insights could serve policy‐making by providing well‐informed,implementable, non‐partisan inputs  ‐  beyond company and industry specific agendas, given thecriticality of private enterprise to India's growth."

"The CFO Board aims to focus on issues where its inputs will be most valued, differentiated andexperience‐based and not add to popular discourse on a wide range of matters.”, she further added.

“The CFO Board is a platform for the finest Indian finance leaders to interact and engage on issuesfaced by industry at a policy level.  The Board is a mechanism to make the Indian finance community'svoice heard and to generate the appropriate inputs to policy making” commented Vikram Aggarwal,senior Chartered Accountant, at the launch event.

In today’s highly dynamic and demanding business environment, organisations are challenged withcommercial, legal and environment risks.  Further, the lack of a common and effective platform wherefinance leaders can work together to addressthese issues only addsto this woe. The CFO Board wouldbe different as it intends to emerge as a credible, informed and non‐partisan view of the CFOcommunity, given the criticality of private enterprise to India's growth.

© 2016 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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